Whatever historical misgivings, I'd still bite. I may be some sort of epic masochist.
That said... I know everyone wants Lords and Ladies in Space but I reiterate that every effort, Fading Suns-themed or original, has collapsed on the weight of its own bad decisions. Primarily, people don't fundamentally understand the economic and political system that they are being handed and modern analogues break the system that is already straining from a lack of comprehensive testing, auditing, enforcement, and staff transparency. Even the most vetted systems that have undergone vigorous QA end up in total disaster. Or often in my case, there is that situation where your PC has maxed out in IC advancement/achievement and you teeter out.
I'll be curious how XP will run if the game ever comes to life. It is the single most significant source of strife, entrenchment, and imbalance in a game. Successful games I have seen have a very loose XP transfer policy and the XP flows freely.
I suppose the elephant in the room is that a truly successful FS game will likely not have Paulus or Lextius or any of their cronies anywhere near staffing positions and probably none of them, Custodius, or myself even on the grid. I know in my case, it will be extremely difficult to play in a game with Paulus, Lextius, Yara, or Custodius ever again. I'm sure many folks will say the same about me.
If there's ever a lesson to be had from the prior iterations of Fading Suns, its that many of the players are a small pool of sometimes deeply flawed individuals and a second chance is a brand new day for them to abuse any good will in that chance.